DELIVERING DECENTRALIZED AND ASSET-BACKED CRYPTOCURRENCY VIA IXINIUM 

The world has been using different currencies since time immemorial. It had started with the issuance of gold as a backing for the United States’ currency. By the passage of the Emergency Banking Act of 1933, the U.S government began to issue the federal gold that backed the country’s currency for many years. The trend, which was successful, had continued until 1971 when the U.S decided to stop it. That was when the United States began to use its USD as the official and standard currency.

Centralized authorities have since regulated money or physical cash like the governments and the banks. That informed the reason behind the debut of cryptocurrencies that sought to wrestle power from fiat currencies. As argued by the proponents of digital assets, aka cryptocurrencies, the coins offer flexibility, just as they cut off intermediaries and attract low costs. One would have expected that the crypto coins would have beefed up the functionalities to attain the much-desired status as a global currency, but that seems to be an effort in futility.

THE CHALLENGES IN GLOBAL PAYMENTS AS IDENTIFIED BY IXINIUM

Ixinium is a blockchain-based project and cryptocurrency with a different formulation. It aims at making the spending of cryptocurrencies seamless, as well as maintaining the value of the coins. Hence, it had highlighted some of the challenges in the conventional and regular payments networks and pointed out how its features can fix the problems.

The first challenge comes from fiat currencies or physical currencies that are not only unstable but can be created when the authorities (the banks and the government deem it fit). Such an approach doesn't augur well for the global finance industry because the users are confident that the currencies would always be there, as opposed to the scarcity and Fear of Missing Out (FOMO) created by cryptocurrencies.

Cryptocurrencies on their part are not free of the challenges. First, there are many Pump and Dump Schemes that tend to increase the prices of the coins, only to leave the investors with worthless coins in the end. That is just as the volatilities of the currencies are not predictable, and the activities of cybercriminals have led to the loss of assets.

THE IXINIUM SOLUTION

Amidst these challenges facing both the cryptocurrency and the fiat currency sectors, a more robust solution has been devised on the Ixinium cryptocurrency. The aim of the coin is to ensure that the users and holders do not end up losing their assets following the adverse market trends, or the activities of cybercriminals.

*Decentralized Control
Ixinium has made the decentralized approach instituted by cryptocurrencies more robust. It achieves that through the designation as a medium of exchange for cryptocurrencies. It further bolsters that move through the use of excellent cryptography that verifies the transfer of crypto coins/tokens, the security of crypto-financial transactions from start to finish, and the creational of additional units of cryptocurrencies.

*Physical Asset Backing
One of the challenges of cryptocurrencies is not having a real-world or tangible asset that backs the coins. Hence, in times of volatile markets, the users and investors tend to lose much of their funds.

On the contrary, Ixinium has pegged its cryptocurrency to many physical and valuable assets, including but not limited to platinum, gold, palladium, and silver. This approach is meant to offer more excellent stability to the cryptocurrency as opposed to the touted security of stable crypto coins like GUSD, USDT, and USDC.

CONCLUSION

The hopes of cryptocurrencies to climb the ladder to become of the universally recognized currencies just got a push with the working templates of the Ixinium cryptocurrency. By pegging the coin to physical assets that have long-standing durability, and by fostering full-scale decentralization and distribution of powers, Ixinium has opened the way for its cryptocurrency and, indeed, any other cryptocurrency that is tied to it.

In light of those formulations, it wouldn’t be out of place to posit that new dawn that would revamp the world of cryptocurrency has been charted.

USEFUL LINKS
Website: http://ixinium.io/
Whitepaper: https://ixinium.io/whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5160309.0
Telegram: https://t.me/XXAofficial
Twitter: https://twitter.com/OIxinium
Facebook: https://web.facebook.com/ixinium

AUTHOR'S DETAILS
Bitcointalk Username: Chomsy
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1759759